Limit Order
An established limit order allows you to set the minimum or maximum price where you desire to purchase or sell currency. This enables you to take advantage of rate fluctuations beyond trading hours and hold out for the desired rate.
Limit Orders are fantastic for clients who may have another payment to generate but who have time and energy to acquire a better exchange rate than the current spot price before the payment needs to be settled.
N.B. when placing difference between stop loss and limit order there’s a contractual obligation that you can honour the agreement when we’re able to book in the rate you have specified.
Stop Order
A stop order enables you to attempt a ‘worst case scenario’ and protect your important thing in the event the market ended up being move against you. You’ll be able to start a limit order that is to be automatically triggered in the event the market breaches your stop price and Indigo will purchase your currency as of this price to make sure you usually do not encounter a much worse exchange rate if you want to produce your payment.
The stop allows you to make the most of your extended timeframe to acquire the currency hopefully in a higher rate but additionally protect you in the event the market ended up being to opposed to you.
N.B. when locating a Stop order there’s a contractual obligation that you can honour the agreement when we’re in a position to book the interest rate your stop order price.
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